Crude language is the least of BP’s Manifold problems May 27, 2026 Yesterday saw the ousting of BP chair Albert Manifold after less than one year in the role. According to various media reports, Manifold was “shouty” and “aggressive”, with a “volcanic temper”. But try as it might to escape crude language, BP’s board may soon suffer similar missives from its shareholders after another c-suite scandal left [...]
BP chair ousted over ‘volcanic’ behaviour after less than a year May 26, 2026 The chair of BP has been fired after less than a year, after “serious concerns” about his conduct were lodged with the energy major’s board. Albert Manifold was stripped of his roles as chair and director of the London-listed petrochemicals giant having only taken the reins last July, with director Amanda Blanc saying the board [...]
Investment firms anticipate surge in renewable energy spending May 21, 2026 UK investment firms are expecting a sharp surge in financing for renewable energy projects once an end to the conflict in the Middle East is reached, after it triggered one of the worst rises in oil and gas prices in years. Over 85 per cent of firms, accounting for roughly £5.5 trillion in assets under [...]
Vattenfall energy portfolio poised to be snapped up by private equity firm May 20, 2026 Swedish energy giant Vattenfall is poised to offload a portfolio of its British assets to private equity firm Reinova in the latest step in its retreat from the UK, City AM understands. The conglomerate, owned by the government of Sweden, is set to sell three of its heat network businesses to London-based Reinova Capital for [...]
Reeves to protect energy and infrastructure projects from court challenges May 20, 2026 Chancellor Rachel Reeves is drawing up reforms to give parliament the power to insulate essential energy and infrastructure projects from court challenges. The government is expected to put forward plans to keep the projects safe from judicial review. “For too long, vital infrastructure delivery has been delayed by judicial reviews of projects,” a Treasury spokesperson [...]
Starmer eases sanctions on Russian oil despite calls to ramp up North Sea drilling May 20, 2026 Keir Starmer is to allow Russian imports of diesel and jet fuel in a major softening of what has been a hardline stance towards Russia since its invasion of Ukraine in 2022. A licence issued on Wednesday will allow such products to enter the UK “indefinitely”, as long as the oil has been refined in [...]
Brits set for sharp rise in energy bills in July May 19, 2026 Brits are set to face a sharp hike in energy costs this summer, with household bills forecast to rise by more than £200 a year, as the conflict in the Middle East ripples into the UK market. Energy analyst Cornwall Insight predicts that the annual bill for a typical dual-fuel household will increase to £1,850, [...]
Energy giant clashes with HMRC at UK’s highest court over £28m penalty May 18, 2026 Scottish Power is to face the tax authority at the UK’s highest court over a tax deduction on a £28m penalty to settle a probe with the regulator. The legal case stems from a probe by the energy regulator Ofgem into Scottish Power between 2013 and 2016 regarding mis-selling, poor complaints handling, and a lack [...]
UK businesses stall investments and cut headcount due to Iran war May 18, 2026 Over half of UK firms said they have halted investment and hiring plans due to the economic fallout of the Iran war, contributing to supply chain pressures and higher energy and fuel costs. According to new research from accountancy and advisory firm BDO, 57 per cent of 500 businesses with revenues between £10m and £500mn, [...]
British Gas to cough up £20m for ‘unfair treatment’ of vulnerable customers May 15, 2026 British Gas is set to cough up £20m after the watchdog closed an investigation into the energy giant and found it “fell short in its treatment of an unacceptable number of vulnerable customers”. The investigation looked into British Gas’ treatment of customers who had prepayment meters (PPMs) installed without permission, with consumers set to benefit [...]